As of September 16, 2026 at 7 a.m. Eastern Time, oil is trading at $108.34 per barrel based on the Brent benchmark, up $1.77 from the previous day. Compared to the same date last year, oil prices have increased by approximately $40, representing a 57.65% rise. Over the past month, prices have climbed by 19.13%, rising from $90.94 to $108.34 per barrel. Oil prices are primarily driven by supply and demand dynamics, with geopolitical factors and global economic conditions playing a significant role.
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